Opinion

The unexpectedly large fine the European Commission has slapped on Google—€2.4 billion—is evidence that the search giant’s relationship with European regulators is now a vicious circle of escalation. Google’s reluctance to give up any revenue from its fastest-growing ad format may lead to significant, unpredictable losses in its biggest market outside the US. The case in which competition commissioner Margrethe …

In the capital of Iraqi Kuridstan, the mood is ‘Kurdistan First’ with the announcement of a referendum on independence in September. In Moscow, where I visited a few weeks ago, it’s ‘Russia First,’ with a vengeance. And so it goes, around most of the world. The politics of national self-interest is on steroids these days. For global leaders, it’s the …

Now that Toshiba Corp. has chosen the preferred buyer for its chip unit, Japan Inc. needs to watch exactly what the new owner will do with the business. No doubt partnering with influential local names strengthened the hand of Bain Capital Private Equity LP in beating out rivals such as Western Digital Corp., Broadcom Corp. and Foxconn Technology Group. Any …

The House is working on the military budget for 2018, and the Pentagon is not pleased. Not only does the plan fall short of the “historic” boost in spending promised by President Donald Trump, but the proposal doesn’t even include one of the military’s own suggestions for saving money. There’s a reason for that: The Pentagon’s proposal — a new …

Europe’s latest move against Google — a record $2.7 billion (2.4 billion euro) fine for anti-competitive behaviour — is understandable but ill-advised. For the sake of a questionable theory, it risks causing an escalating quarrel. The European Commission accused Google of putting sites that compare prices for goods and services at an unfair disadvantage on its search pages. Years of …

Very little was expected in India from Prime Minister Narendra Modi’s visit to the US, and for good reason: Modi had gone out of his way to cultivate a personal relationship with Barack Obama, including famously pouring out a cup of tea for him and the cameras when Obama visited India. Modi is nothing if not a strong personality, and …

Alibaba Group Holding Ltd. upping its stake in Lazada Group SA looks like a great deal for sellers of the latest 32 percent interest. Parties including Rocket Internet SE and Investment AB Kinnevik are among the winners, managing to wring a 59 percent increase in price since Alibaba took its first 51 percent shareholding in the Southeast Asian e-commerce player …

Ten years after the introduction of Apple Inc.’s iPhone, and the broader category of smartphones, it’s worth stepping back to see what we have learned. As with most major technological innovations, it’s brought a number of collateral surprises about the rest of our world. First, we’ve learned that, even in this age of bits and bytes, materials innovation still matters. …

Do we have a worker shortage? Maybe. For months, I’ve planned to write a column on the future of the US labour market. Stacked on my desk are reports on “the gig economy,” “independent workers,” “contingent workers,” “freelancers” and the like. All signify a new, less secure labor market. Workers won’t have long-lasting career jobs, as the old post-World War …

Executives of risky U.S. oil companies should feel proud. They sold billions of dollars of junk-rated debt earlier this year, locking in historically low borrowing costs and pushing out their maturities. And they did so at the expense of debt investors, who now find themselves getting burned yet again, less than two years after one of the biggest selloffs ever …